Swiss Banks Show Strong Forex Results, Securing Top Slots Among Competitors

BANKS

Swiss Bank Corp's (SBC) first half forex and bank notes revenues surged 43 per cent in a year-over-year comparison, to CHF592 million ($405 million) versus CHF415 million ($331 million), placing it behind only Citibank in terms of the major international banks that have so far reported interim results this year (FXW, August 18; August 11; and July 21).

First half revenues were converted using Reuters' exchange rates of 1.4610 dollar/Swiss franc on June 30, 1997 and 1.2541 on June 28, 1996. Th